July Market Update

So how's the market doing? I mean you see all these reports and all these things going on. There's a lot going on in the real estate market today for a lot that's not happening. So basically here's what's going on. In July, we had a total of homes for sale of 673 homes in the Stockton-Lodi area, but that was down compared to June by about 5%. We're also down from last July of 2018 by 14%. That's a pretty big drop. However, the homes closed for July was, between the Stockton-Lodi markets, was about 356 homes that actually closed escrow, sold, which was down 5% from June, but only down 2.5% from last July in 2018. However, homes that went under contract to sell was 462 for the month of July which was up, listen to this, up 25% from June and up 43.5% from July of 2018. That is a huge bump.
So a lot of things that are going on, to briefly, what's happening is the interest rates are staying extremely low. They keep lowering them. We're at rates right now that we have been at in two, three, four years. If you're thinking about buying or selling or refinancing, give me a call. Let me hook you up with a great lender. This is a great time to buy or refinance, and because of that it's also a great time to sell and move up. If you have any other questions, please feel free to give me a call and as always, make it a great day.